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Last Update: 03/12/2009
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Additional Information

Assurance Report

To the Management of BASF SE

Introduction

We have been engaged to review selected sections of the Group Management’s Analysis for the year 2008 of BASF SE, Ludwigshafen, as listed under Scope below. The total Group Management’s Analysis is, together with the consolidated financial statements for the year ended December 31, 2008 in accordance with Para 315a HGB (German Commercial Code) subject to the statutory audit pursuant to Para 317 HGB.

The Board of Executive Directors is responsible for the preparation and fair presentation of the information in the selected sections. Our responsibility is to issue an assurance report on the information in the selected sections of the Group Management’s Analysis 2008.

Reporting Standards and Criteria

We conducted our engagement in accordance with the International Standard for Assurance Engagements (ISAE) 3000: Assurance Engagements other than Audits or Reviews of Historical Financial Information, issued by the International Auditing and Assurance Standards Board. Amongst others, this standard requires that we comply with the requirements of the IFAC Code of Ethics for Professional Accountants to ensure our independence.

BASF applies the Sustainability Reporting Guidelines of the Global Reporting Initiative as well as internal corporate guidelines for reporting, as detailed on pages 2 and 3 of the Annual Report 2008 of BASF SE. We believe that these criteria are suitable in view of the purpose of our assurance engagement.

Scope

Our engagement was designed to provide assurance on whether the information in the following sections of the Group Management’s Analysis 2008 does not appear to be unfairly stated based on the reporting criteria above (limited assurance):

The BASF Group

  • Sustainability Management (page 28)

Employees and Society

  • Employees (page 90)
  • Occupational Safety (page 95)
  • Health Protection (page 96)
  • Social Commitment (page 97)

Environment and Safety

  • Climate Protection (page 99)
  • Energy (page 102)
  • Water (page 104)
  • Environment and Safety Management (page 106)
  • Product Stewardship (page 110)

Work undertaken

A review is limited primarily to inquiries of company employees and analytical evaluation and therefore does not provide the assurance attainable in an audit.

With regard to the information in the sections listed above we carried out the following procedures:

  • Assessment of the data reported and the data validation processes at corporate and regional level;
  • Visits to the sites in Ludwigshafen (Germany), Lemförde (Germany), Freeport (USA), São Paulo (Brazil) and Kuantan (Malaysia) to assess the data collection and reporting process and to review the reliability of the reported data;
  • Inquiry of data trends and discussions with management thereto;
  • Interviewing staff responsible for the analysis and reporting of the data and accompanying notes for these indicators;
  • Inspection of the documentation of the systems and processes for information management, internal control and processing of the information;
  • Interviewing staff at corporate level and reviewing internal and external documents to determine whether qualitative information is supported by sufficient evidence;
  • An evaluation of the overall presentation of the information within our scope.

Conclusion

Based on the procedures and the reporting criteria described above, the information in the sections of the Group Management´s Analysis for the year 2008 of BASF SE listed under Scope does not appear, in all material respects, to be unfairly stated.

Frankfurt am Main, February 25, 2009

KPMG AG
Wirtschaftsprüfungsgesellschaft

[Original German version signed by:]

Kuhn
Wirtschaftsprüfer

Fischer
Wirtschaftsprüferin

 

Download this Assurance Report including the
Management´s Analysis (119 pages)
(pdf, 3.2 MB)

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